New York sports betting handle dips below $2bn in February
Empire State operators tally $1.98bn in wagering volume to snap five-month run of at least $2bn
A record five-month run of at least $2bn in monthly handle for New York sportsbooks came to an end in February.
Total wagering volume checked in at $1.98bn, according to new data from the New York State Gaming Commission.
The dip came on the heels of a banner January that saw the Empire State establish new records for both handle ($2.48bn) and revenue ($247m).
February revenue came to $184.8m, down 25.2% from January but up 40.6% year-over-year (YOY) from $131.4m during the same period of 2024.
Handle saw a similar 20.4% month-over-month (MOM) decrease and an 11.4% YOY jump from $1.77bn in February 2024.
Statewide hold was 9.4% in February, with operators generating $94.3m in tax revenue to benefit education initiatives in New York.
On the operator side, FanDuel continued to lead the pack, tallying $92.6m in gross revenue on $738.5m in handle – both tops in the state.
The Flutter-owned brand recorded a 12.5% win rate that registered as a full three percentage points higher than the statewide average.
DraftKings maintained its number two status, challenging its primary US competitor in wagering volume ($717.4m) but amassing significantly less revenue ($51.6m) due to a below-average 7.2% hold.
BetMGM grabbed the final podium spot after accepting $130.2m in total wagers while accruing $11.8m in revenue for a solid 9.1% win rate.
Fanatics, meanwhile, outperformed BetMGM in handle with $160.5m but didn’t fare nearly as well in terms of revenue, only generating $11.1m.
Caesars ($128.6m handle, $10m revenue) wasn’t too far behind as part of a competitive second tier of operators.